Calculate Taxable Income and total Tax Liability of any Assessee

This Income Tax Calculator can be used to calculate last 5 Financial Years taxable income and total tax liability as per Income-Tax Act, 1961.

Income Tax Calculator
About 31 million assessees (TaxPayers) are registered on e-filing portal of Income Tax Department at out of which only 10 million assessees have filed their return as on 31st July, 2013 for Financial Year (FY) 2013-14 relating to the Assessment Year (AY) 2014-15.

Accordingly, the Central Board of Direct Taxes (CBDT) extend the DUE DATE for filing returns of income from 31/07/2013 to 05/08/2013 vide order u/s 119 of Income-Tax Act, 1961. Thus today is the last date for filing your ITR (Income Tax Return) offline or to prepare and submit ITR online.

Most of the assessees are not afraid to pay tax but they are actually anxious to calculate their tax liability and the process of filing returns. If you are one of them and are worried about the tax rate applicability, deductions to be allowed and how to calculate tax liability etc. then you have come to the right place.

Income Tax department has launched a unique calculator which will not only calculate your Taxable income but you can also calculate your tax liability from this Income Tax Calculator.

Just visit IncomeTaxIndia and select appropriate items like AY, residential status and type (Individual/ HUF/ Company/ Firm) from the drop down menu and get the amount of tax payable. This tax calculator can be used to calculate last 5 financial years total tax liability.

Therefore, you may use this calculator for calculation income tax payable by (1) Individual   (2) Hindu Undivided Family (HUF) (3) Body of Individual (BOI) (4) Association of Persons (AOP) (5) Cooperative societies  (6) Domestic company  (7) Foreign company  (8) Partnership firm   (9) Limited Liability Partnerships (LLP) and (10) Co-operative society.

You may also send the calculated tax liability to any E-mail address as a statement showing computation of taxable income and total tax liability.